American Express is joining Ripple’s blockchain network to provide real-time, business-to-business global payments that will ultimately enhance their customers’ experience.

Initially, American Express FX International Payments (FXIP) will partner with Santander UK to create a transaction channel between the U.S. and U.K. — a first and a boon for the corridor. The U.S. is the U.K.’s largest trading partner, creating an immediate need for frictionless commercial global payments in the U.K. market.

Partnering to deliver faster, better service

By leveraging the power of RippleNet, FXIP customers will see an immediate improvement in how they send money globally.

What’s more, FXIP’s use of RippleNet will maintain the level of security that American Express customers have come to know and expect.

“We’ve already seen evidence that blockchain technology is playing a transformational role in the way customers are served,” said Greg Keeley, Executive Vice President of Global Corporate Payments at American Express.

“Not only does this partnership with Ripple help decrease the time it takes for international transactions to be processed, it can make our transactions more effective for our customers,” Keeley added.

Joining forces to avoid settling for less

FXIP’s partnership with Santander UK to send cross-border payments between the U.S and U.K will help American Express not only streamline commercial payments, but also establish a wider footprint in the U.K.

José Luis Calderón, Santander’s global head of transaction banking, said, “This blockchain solution opens up a new channel between the U.S. and the U.K. and presents a significant opportunity for payments globally.

“Collaborating with forward-thinking businesses has enabled us to deliver this cutting-edge, secure, friction-free payment solution and extend our ‘Simple, Personal, Fair’ philosophy to American Express and their customers.”

“Transfers that used to take days will be completed in real time, allowing money to move as fast as businesses move today. It’s just the beginning, and we look forward to growing this partnership to help other American Express FXIP customers.

Contact us to learn more about Ripple’s growing network, and how other companies are helping to create one frictionless experience to send money globally